Canadian PE Firm Penfund Raises $460M From Investors

Law360, New York (March 7, 2012, 1:58 PM EST) -- Toronto-based private equity firm Penfund has closed its fourth fund at $460 million from an all-Canadian group of institutional investors, it said Wednesday.

Penfund Capital Fund IV, which was originally capped at $450 million and inched up to accomodate the firm's existing investors, will operate as a specialty lender and equity investor making investments of $15 million to and $90 million in mid-market companies in Canada and the U.S.

As a specialized lender, the fund will provide unitranche facilities, which combine senior and subordinated debt into...
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